👉🏻Bitcoin in the same narrow range; reached almost 61800, now it has bounced down a little. However, this is typical price behavior for the weekend. Significant movements are likely overnight and into Monday morning‼️
👉🏻I spoke yesterday about the factors of growth and decline in the coming days, this is all in force. For now, I will note the growth of the Bitcoin dominance index - it is now higher than last Monday, when Bitcoin fell below 60K. That is, then the alts did not drain, although Bitcoin then fell from 64K to 58,500 within 24 hours. And now, with Bitcoin at 60,000-62,000, for some reason they began to drain.
👉🏻Most likely, the market crowd expects Bitcoin and the entire market to fall with the opening of the market. Because it’s the beginning of July and mt.GOX, as promised).
👉🏻Soon we’ll see how everything really turns out. Plans for Bitcoin have been talked about many times, but I won’t repeat them. Now about violas. The secret to success in the market is simple - you have to buy low and sell high. Just).
Are violas now expensive or cheap?
- Capitalization of alts, excluding Bitcoin - the level of the end of April 2022.
- Capitalization of alts, excluding Bitcoin and Ethereum - level of May 2022.
👉🏻This is when the Fed rate hike cycle was ahead, and Bitcoin was worth a little more than 30K.
👉🏻Bitcoin is now holding above 60K for the fourth month, the Fed is moving to lower rates, and even ETH-ETF is at a low start. And maybe not just ETH-ETF.
👉🏻Therefore, it is obvious to me that violas are now extremely cheap. Which, of course, does not deprive them of the opportunity to fall by another 15-20% in the event of unfavorable developments of events (geopolitical, for example).
💥But the potential for upward movement is much higher. Exactly in order.
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